Litecoin has seen a 27% increase in price in the second half of April, with the potential to reach a new 30-day peak above $100 with a 10% bounce. The rise in LTC price is believed to be driven by speculative traders in the derivatives markets who are heavily leaning towards bullish positions.
Litecoin bulls have been utilizing high levels of leverage, totaling $18 million, in anticipation of further gains towards the $100 mark. Data from Coinglass’ Liquidation Map shows that the number of LONG leverage positions in LTC has surpassed SHORT positions, indicating a strong bullish sentiment among derivatives traders.
Overall, the market outlook for Litecoin remains positive as traders continue to bet on a potential rally towards higher price levels.